Casava Launches Green Insurance for SMEs in Nigeria

Casava, Nigeria's first licensed digital microinsurance company, has announced a landmark partnership with Rivy, a clean tech financing company, to launch Nigeria's first dedicated green insurance products designed to protect small and medium enterprises (SMEs) investing in renewable energy. This partnership introduces a comprehensive suite of renewable energy insurance products that cover solar panels and inverters against theft and damage, providing full logistical delivery protection to eliminate financial risks that have historically deterred Nigerian businesses from transitioning to clean energy.

The insurance products will seamlessly integrate with Rivy's financing platform, addressing the significant barriers SMEs face in adopting solar energy, which often requires capital investments ranging from 500,000 to 5 million Naira. Casava's offerings include end-to-end coverage for solar equipment during transit and installation, ensuring SMEs are fully protected.

The partnership aims to enhance the confidence of Nigerian businesses in switching to renewable energy, with the potential to unlock unprecedented opportunities in the digital insurance market projected to grow from 2.2 trillion to 8 trillion Naira by 2030.